“Blessings Of God Thru Crypto,” Tennessee Couple Faces $6.8 Million In Penalties For Crypto Fraud

Image Credit: Canva

The Tennessee Conservative [By Adelia Kirchner] –

A Tennessee couple is facing $6.8 million in penalties for allegedly swindling investors out of millions of dollars through a fake crypto trading scheme called “Blessings of God Thru Crypto.”

The U.S. District Court of Middle Tennessee has entered a consent order against Clarksville real estate agents, Michael and Amanda Griffis.

The couple started this fraudulent “Blessings of God Thru Crypto” commodity pool in 2021 by soliciting funds from their real estate connections, clients included.

They claimed that the funds would be used to trade on the Apex Trading Platform with guidance from an individual known as “Coach Wendy” and kept the scheme up until facing charges for it in July of 2023.

During this time, the couple convinced at least 145 individuals to contribute over $6.5 million to the fake commodity pool. 

The Apex Trading Platform was actually an illegitimate copy of an overseas exchange and according to the Commodity Futures Trading Commission (CFTC), the true identity of the individual called “Coach Wendy” is still unknown.

“More than $4 million of the pool’s funds were sent to the illegitimate overseas exchange where it was immediately sent to a variety of other accounts and offshore trading platforms,” the CFTC said in a recent press release. “The remaining funds were misappropriated for personal expenses including paying personal debts and buying a variety of consumer goods.”

In Thursday’s press release, the CFTC stated that the U.S. District Court of Middle Tennessee’s order requires the Griffis couple to pay $5,528,121 in restitution to defrauded victims and an additional $1,355,232 civil monetary penalty.

The order also permanently bans the couple from trading and registering with CFTC.

“This case is a stark warning to be cautious about whom you trust with your money,” Acting Chief of the Division of Enforcement’s Retail Fraud and General Enforcement Task Force, Charles Marvine, said. “If an investment opportunity seems too good to be true, it almost certainly is, for you and anyone you bring along.”

About the Author: Adelia Kirchner is a Tennessee resident and reporter for the Tennessee Conservative. Currently the host of Subtle Rampage Podcast, she has also worked for the South Dakota State Legislature and interned for Senator Bill Hagerty’s Office in Nashville, Tennessee.  You can reach Adelia at adelia@tennesseeconservativenews.com.